Buy the cable above 1.3590

05 January 2018, GBP/USD

Wave Analysis:

After an unprecedented fall in price seen on 3rd this January, the cable is continuing rise and is still showing signs of rising. During this intraday, we expect a possible bullish price movements to the upper side. We expect this upwards rally to be the continuation of the impulsive wave (1) to the upper side and may break above 1.3590. If you're a bit skeptic to buy the cable now you could wait and buy the impulsive wave (3) towards 1.4758. This pair should be traded alongside GBPAUD, GBPCHF and GBPHKD. These pairs have a strong positive correlation and will move in the same direction today.